Boston VA Loan Rates, Closing Costs & Stats

Boston-Cambridge-Newton, MA-NH

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    • A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

    The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

    For additional benefits of VA loans, click here.

    Boston's 111 lenders originated 1,282 VA loans during 2023. The total origination value was $666,620,000, with an average VA loan value of $519,984.

    Boston VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Boston averaged 6.09% for the week of 2024-12-13, compared to the national average (all VA variants) of 6.077% for the same period.

    Boston's average VA mortgage closing costs are $7,242.

    The average rate for the prior week (2024-12-06) was 6.02% and one month ago for the week of 2024-11-08, the average rate was 6.42%.

    The average rate one year ago was 6.67%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.03%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Boston VA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Boston level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 183 6.54% $12,631
    QUICKEN LOANS, LLC 80 6.09% $15,904
    GUARANTEED RATE, INC. 65 6.14% $10,333
    LOANDEPOT.COM, LLC 65 6.26% $14,680
    NAVY FEDERAL CREDIT UNION 65 5.88% $8,696
    UNITED WHOLESALE MORTGAGE, LLC 63 6.43% $9,370
    CROSSCOUNTRY MORTGAGE, LLC 58 6.56% $12,859
    CMG MORTGAGE, INC. 46 6.53% $12,246
    PENNYMAC LOAN SERVICES, LLC 41 5.45% $10,938
    FREEDOM MORTGAGE CORPORATION 37 6.45% $18,419
    MOVEMENT MORTGAGE, LLC 34 6.26% $10,181
    USAA Federal Savings Bank 32 6.14% $11,051
    The Federal Savings Bank 32 6.06% $20,945
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 30 6.62% $11,056
    GUILD MORTGAGE COMPANY 22 6.72% $10,925
    RADIUS FINANCIAL GROUP INC. 16 6.48% $12,976
    Leader Bank 15 6.16% $9,004
    HARBORONE MORTGAGE, LLC 12 6.02% $10,767
    PRIMELENDING, A PLAINSCAPITAL COMPANY 12 6.15% $11,712
    NEWREZ LLC 11 6.43% $11,329
    PENTAGON FEDERAL CREDIT UNION 11 5.33% $13,025
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 10 6.21% $7,981
    Mr. Cooper ( Nationstar Mortgage ) 10 5.89% $16,406
    BROKER SOLUTIONS, INC. 9 6.54% $12,623
    AMERISAVE MORTGAGE CORPORATION 9 5.57% $19,528
    Barrington Bank & Trust Company, N.A. 8 6.21% $19,957
    GUARANTEED RATE AFFINITY, LLC 8 6.13% $12,400
    BNC National Bank 8 5.58% $13,437
    Magnolia Bank 8 6.25% $18,805
    EMM LOANS LLC 8 6.45% $8,671
    NBKC BANK 8 6.48% $12,663
    Armed Forces Bank 7 6.36% $17,233
    ENVOY MORTGAGE, LTD 7 6.57% $7,177
    TOTAL MORTGAGE SERVICES, LLC 7 6.75% $14,812
    HOMEBRIDGE FINANCIAL SERVICES, INC. 7 6.20% $15,868
    The Camden National Bank 6 6.15% $11,216
    SALEM FIVE MORTGAGE COMPANY, LLC 6 6.63% $10,942
    American Mortgage & Equity Consultants, Inc. 5 6.55% $13,283
    RELIANCE FIRST CAPITAL, LLC 5 6.38% $11,847
    NORTHPOINT MORTGAGE, INC. 5 6.85% $12,351
    Shamrock Home Loans, Inc. 5 6.20% $6,947
    AMERICAN FINANCIAL NETWORK, INC. 5 6.53% $12,484
    MORTGAGE EQUITY PARTNERS LLC 5 6.60% $8,813
    GENEVA FINANCIAL, LLC 5 6.90% $13,179
    Wells Fargo Bank 4 5.84% $10,072
    DREW MORTGAGE ASSOCIATES, INC. 4 6.50% $6,416
    LAKEVIEW LOAN SERVICING, LLC 4 6.22% $17,593
    Keystone Funding, Inc. 4 6.25% $7,394
    HANSCOM 4 6.41% $2,706
    The Washington Trust Company, of Westerly 4 6.69% $10,034
    ACADEMY MORTGAGE CORPORATION 3 6.67% $5,749
    ALLIED MORTGAGE GROUP, INC. 3 6.29% $14,678
    Bank of England 3 6.42% $16,278
    Citizens Bank 3 6.46% $8,810
    EMBRACE HOME LOANS, INC. 3 5.92% $12,286
    JPMorgan Chase Bank 3 6.33% $9,661
    MUTUAL OF OMAHA MORTGAGE, INC. 3 6.25% $13,228
    NEW DAY FINANCIAL, LLC 3 7.29% $11,004
    NEW FED MORTGAGE, CORP. 3 6.17% $18,494
    NFM, INC. 3 6.08% $9,228
    Prosperity Home Mortgage, LLC 3 6.00% $10,774
    U.S. Bank 3 6.42% $6,336
    VILLAGE CAPITAL MORTGAGE 2 6.19% $24,589
    FIRST MORTGAGE COMPANY, INC. 2 6.43% $19,606
    FIRST HOME MORTGAGE CORPORATION 2 6.81% $20,294
    NATIONS DIRECT MORTGAGE, LLC 2 6.25% $10,820
    North American Savings Bank, F.S.B. 2 5.50% $3,722
    Northpointe Bank 2 5.50% $11,466
    NORWICH COMMERCIAL GROUP, INC. 2 6.00% $11,677
    DRAPER AND KRAMER MORTGAGE CORP. 2 6.56% $16,325
    CONWAY FINANCIAL SERVICES, LLC 2 6.50% $14,940
    Presidential Bank, FSB 2 6.00% $21,434
    CARDINAL FINANCIAL 2 6.19% $18,077
    Bridgewater Savings Bank 2 5.94% $2,461
    Semper Home Loans, Inc. 2 6.69% $24,283
    Sierra Pacific Mortgage Company, Inc. 2 6.06% $14,156
    Berkshire Bank 2 6.25% $12,274
    BAYCOAST MORTGAGE COMPANY, LLC 2 6.00% $14,784
    HOMESIDE FINANCIAL, LLC 2 6.25% $4,715
    Flagstar Bank, FSB 2 6.75% $17,779
    Paramount Residential Mortgage Group, Inc. 1 6.75% $4,726
    HOMESTEAD FUNDING CORP. 1 7.00% $11,049
    LENOX FINANCIAL MORTGAGE CORPORATION 1 5.88% $10,975
    PHH Mortgage Corporation 1 5.99% $7,968
    Plains Commerce Bank 1 6.63% $7,085
    PLAZA HOME MORTGAGE, INC. 1 7.25% $835
    PREMIA MORTGAGE, LLC 1 5.25% $8,544
    Bank of New Hampshire 1 6.75% $16,625
    CONTOUR MORTGAGE CORPORATION 1 6.25% $25,202
    Waterstone Mortgage Corporation 1 7.63% $8,859
    PROVINCE MORTGAGE ASSOCIATES, INC. 1 6.88% $5,492
    CHURCHILL MORTGAGE CORPORATION 1 7.25% $6,733
    Bank of America 1 7.13% $4,199
    Capital Bank 1 6.00% $17,226
    First National Bank Texas 1 7.13% $5,359
    Rockland Trust Company 1 6.50% $7,072
    TOWNE MORTGAGE COMPANY 1 6.50% $17,411
    First Federal Bank 1 6.63% $15,133
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.75% $2,009
    Lakeview Community Capital, LLC 1 5.75% $21,685
    Fall River Five Cents Savings Bank 1 6.63% $10,995
    Evolve Bank & Trust 1 7.13% $5,380
    AMERICAN INTERNET MORTGAGE, INC. 1 5.50% $11,094
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.00% $13,020
    EVERETT FINANCIAL, INC. 1 5.88% $18,637
    MILEND, INC. 1 6.25% $14,583
    BM Real Estate Services, Inc. 1 7.25% $22,788
    LADERA LENDING, INC. 1 6.13% $10,401
    EQUITY RESOURCES, INC. 1 6.25% $3,978
    SUN WEST MORTGAGE COMPANY, INC. 1 5.25% $22,491
    OCMBC, INC. 1 7.13% $3,249

    The top Boston VA lender as defined by loan originations is Mortgage Research Center, LLC, with 183 VA loans originated. Their average total fees are $12,631, which is $3,273 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Boston VA lenders (with over 10 loans originated) are ARK-LA-TEX FINANCIAL SERVICES, LLC. ($7,981), NAVY FEDERAL CREDIT UNION ($8,696), Leader Bank ($9,004), UNITED WHOLESALE MORTGAGE, LLC ($9,370) and MOVEMENT MORTGAGE, LLC ($10,181).

    The lowest rate Boston VA lenders (with over 10 loans originated) are PENTAGON FEDERAL CREDIT UNION (5.33%), PENNYMAC LOAN SERVICES, LLC (5.45%), NAVY FEDERAL CREDIT UNION (5.88%), Mr. Cooper ( Nationstar Mortgage ) (5.89%) and HARBORONE MORTGAGE, LLC (6.02%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Boston (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $529,450 (6.0%) $858,963 (4.0%) 1.96 6,024
    2018-02-01 $543,925 (5.6%) $875,791 (3.2%) 1.97 6,008
    2018-03-01 $574,900 (6.5%) $907,076 (4.8%) 2.02 6,565
    2018-04-01 $579,900 (5.5%) $900,058 (2.9%) 1.97 7,726
    2018-05-01 $584,950 (6.2%) $896,235 (3.6%) 1.95 8,781
    2018-06-01 $579,000 (5.3%) $876,303 (2.5%) 1.93 10,206
    2018-07-01 $559,450 (1.9%) $857,166 (1.9%) 1.87 10,104
    2018-08-01 $549,250 (3.6%) $825,147 (0.4%) 1.84 10,159
    2018-09-01 $549,900 (3.8%) $806,934 (-1.4%) 1.85 11,372
    2018-10-01 $549,000 (1.7%) $799,585 (-3.4%) 1.86 11,626
    2018-11-01 $539,450 (-0.1%) $798,226 (-3.9%) 1.83 10,956
    2018-12-01 $535,000 (1.1%) $798,662 (-5.6%) 1.85 8,824
    2019-01-01 $533,900 (0.8%) $806,251 (-6.1%) 1.84 7,542
    2019-02-01 $549,450 (1.0%) $851,143 (-2.8%) 1.86 7,336
    2019-03-01 $571,386 (-0.6%) $884,062 (-2.5%) 1.87 8,059
    2019-04-01 $599,900 (3.5%) $914,562 (1.6%) 1.90 8,915
    2019-05-01 $602,450 (3.0%) $922,731 (3.0%) 1.88 9,950
    2019-06-01 $599,900 (3.6%) $918,784 (4.9%) 1.87 11,096
    2019-07-01 $599,900 (7.2%) $910,775 (6.3%) 1.88 10,604
    2019-08-01 $595,643 (8.5%) $898,138 (8.9%) 1.89 10,685
    2019-09-01 $589,259 (7.2%) $887,066 (9.9%) 1.89 10,878
    2019-10-01 $587,806 (7.1%) $889,481 (11.2%) 1.90 11,006
    2019-11-01 $589,900 (9.4%) $915,321 (14.7%) 1.93 9,635
    2019-12-01 $589,450 (10.2%) $917,211 (14.8%) 1.97 7,007
    2020-01-01 $586,600 (9.9%) $930,603 (15.4%) 1.96 5,779
    2020-02-01 $599,900 (9.2%) $971,896 (14.2%) 1.96 5,750
    2020-03-01 $629,900 (10.2%) $980,367 (10.9%) 1.97 6,617
    2020-04-01 $617,450 (2.9%) $945,955 (3.4%) 1.93 6,435
    2020-05-01 $629,900 (4.6%) $945,400 (2.5%) 1.91 7,200
    2020-06-01 $656,699 (9.5%) $1,002,177 (9.1%) 1.93 7,782
    2020-07-01 $677,000 (12.9%) $1,036,335 (13.8%) 1.96 7,395
    2020-08-01 $675,000 (13.3%) $1,042,698 (16.1%) 1.93 7,191
    2020-09-01 $672,500 (14.1%) $1,038,799 (17.1%) 1.93 7,579
    2020-10-01 $665,000 (13.1%) $1,033,141 (16.2%) 1.91 7,944
    2020-11-01 $654,450 (10.9%) $1,028,460 (12.4%) 1.91 7,085
    2020-12-01 $647,450 (9.8%) $1,004,412 (9.5%) 1.93 5,301
    2021-01-01 $659,000 (12.3%) $1,075,330 (15.6%) 1.97 4,099
    2021-02-01 $679,450 (13.3%) $1,128,313 (16.1%) 1.98 3,872
    2021-03-01 $682,250 (8.3%) $1,144,108 (16.7%) 1.94 4,267
    2021-04-01 $694,000 (12.4%) $1,179,014 (24.6%) 1.88 4,773
    2021-05-01 $699,800 (11.1%) $1,180,392 (24.9%) 1.86 4,879
    2021-06-01 $697,225 (6.2%) $1,144,455 (14.2%) 1.84 5,738
    2021-07-01 $669,900 (-1.1%) $1,113,575 (7.5%) 1.77 5,674
    2021-08-01 $650,000 (-3.7%) $1,075,177 (3.1%) 1.73 5,574
    2021-09-01 $671,000 (-0.2%) $1,055,466 (1.6%) 1.79 6,019
    2021-10-01 $679,000 (2.1%) $1,062,835 (2.9%) 1.81 5,929
    2021-11-01 $674,577 (3.1%) $1,073,504 (4.4%) 1.80 4,935
    2021-12-01 $692,000 (6.9%) $1,141,128 (13.6%) 1.87 3,501
    2022-01-01 $715,000 (8.5%) $1,220,127 (13.5%) 1.93 2,675
    2022-02-01 $749,000 (10.2%) $1,237,957 (9.7%) 1.95 2,637
    2022-03-01 $749,450 (9.9%) $1,254,177 (9.6%) 1.88 2,991
    2022-04-01 $749,450 (8.0%) $1,243,532 (5.5%) 1.79 3,701
    2022-05-01 $757,500 (8.3%) $1,242,269 (5.2%) 1.73 4,474
    2022-06-01 $750,000 (7.6%) $1,172,907 (2.5%) 1.67 5,715
    2022-07-01 $739,900 (10.5%) $1,110,707 (-0.3%) 1.67 6,177
    2022-08-01 $725,000 (11.5%) $1,108,059 (3.1%) 1.68 5,759
    2022-09-01 $744,000 (10.9%) $1,144,989 (8.5%) 1.74 5,913
    2022-10-01 $749,000 (10.3%) $1,169,410 (10.0%) 1.76 6,223
    2022-11-01 $744,925 (10.4%) $1,176,768 (9.6%) 1.79 5,903
    2022-12-01 $749,000 (8.2%) $1,199,762 (5.1%) 1.85 4,407
    2023-01-01 $759,450 (6.2%) $1,238,021 (1.5%) 1.88 3,697
    2023-02-01 $799,000 (6.7%) $1,345,477 (8.7%) 1.93 3,433
    2023-03-01 $823,500 (9.9%) $1,387,500 (10.6%) 1.94 3,705
    2023-04-01 $839,000 (12.0%) $1,422,134 (14.4%) 1.95 4,059
    2023-05-01 $867,125 (14.5%) $1,444,230 (16.3%) 1.97 4,314
    2023-06-01 $866,443 (15.5%) $1,425,311 (21.5%) 1.95 4,806
    2023-07-01 $849,900 (14.9%) $1,434,805 (29.2%) 1.93 4,538
    2023-08-01 $844,200 (16.4%) $1,418,399 (28.0%) 1.94 4,530
    2023-09-01 $849,000 (14.1%) $1,420,742 (24.1%) 1.98 4,931
    2023-10-01 $837,374 (11.8%) $1,400,665 (19.8%) 1.97 5,351
    2023-11-01 $824,500 (10.7%) $1,383,873 (17.6%) 1.96 5,205
    2023-12-01 $800,000 (6.8%) $1,388,573 (15.7%) 1.95 4,062
    2024-01-01 $809,900 (6.6%) $1,405,646 (13.5%) 1.98 3,369
    2024-02-01 $854,450 (6.9%) $1,496,024 (11.2%) 2.06 3,319
    2024-03-01 $879,950 (6.9%) $1,528,390 (10.2%) 2.07 3,737
    2024-04-01 $869,900 (3.7%) $1,489,605 (4.7%) 2.02 4,365
    2024-05-01 $899,900 (3.8%) $1,537,922 (6.5%) 2.03 4,947
    2024-06-01 $879,000 (1.5%) $1,493,039 (4.8%) 1.98 5,917
    2024-07-01 $853,950 (0.5%) $1,433,895 (-0.1%) 1.95 5,830
    2024-08-01 $834,500 (-1.2%) $1,406,266 (-0.9%) 1.94 5,723
    2024-09-01 $839,900 (-1.1%) $1,415,757 (-0.4%) 1.98 6,400
    2024-10-01 $837,450 (0.0%) $1,401,111 (0.0%) 1.97 6,625
    2024-11-01 $819,900 (-0.6%) $1,395,790 (0.9%) 1.97 5,884
    Boston's median listing price for 2024-11-01 was $819,900, a difference of $-4,600 (-0.6%) versus the prior year and $-17,550 versus the prior month.

    Boston's median listing price comes in at 197% of the national average.

    Boston's average listing price for 2024-11-01 was $1,395,790, a difference of $11,917 (0.9%) versus the prior year and $-5,321 versus the prior month.

    For the 2024-11-01 period, Boston had 5,884 MLS listings, a difference of -741 listings (-11%) versus the prior month and 679 listings (13%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Boston (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 73 days 2,007 sqft
    2018-02-01 57 days 2,025 sqft
    2018-03-01 36 days 2,061 sqft
    2018-04-01 29 days 2,042 sqft
    2018-05-01 28 days 2,056 sqft
    2018-06-01 32 days 2,045 sqft
    2018-07-01 41 days 2,034 sqft
    2018-08-01 46 days 2,012 sqft
    2018-09-01 44 days 1,989 sqft
    2018-10-01 44 days 1,967 sqft
    2018-11-01 51 days 1,947 sqft
    2018-12-01 65 days 1,937 sqft
    2019-01-01 71 days 1,907 sqft
    2019-02-01 56 days 1,925 sqft
    2019-03-01 41 days 1,973 sqft
    2019-04-01 32 days 2,025 sqft
    2019-05-01 32 days 2,045 sqft
    2019-06-01 37 days 2,054 sqft
    2019-07-01 47 days 2,037 sqft
    2019-08-01 49 days 2,020 sqft
    2019-09-01 47 days 1,998 sqft
    2019-10-01 45 days 1,983 sqft
    2019-11-01 55 days 1,981 sqft
    2019-12-01 75 days 1,932 sqft
    2020-01-01 78 days 1,909 sqft
    2020-02-01 43 days 1,959 sqft
    2020-03-01 31 days 2,000 sqft
    2020-04-01 45 days 1,996 sqft
    2020-05-01 50 days 2,000 sqft
    2020-06-01 31 days 1,967 sqft
    2020-07-01 35 days 1,890 sqft
    2020-08-01 37 days 1,844 sqft
    2020-09-01 32 days 1,733 sqft
    2020-10-01 31 days 1,692 sqft
    2020-11-01 47 days 1,667 sqft
    2020-12-01 62 days 1,652 sqft
    2021-01-01 60 days 1,639 sqft
    2021-02-01 33 days 1,652 sqft
    2021-03-01 22 days 1,664 sqft
    2021-04-01 18 days 1,668 sqft
    2021-05-01 19 days 1,693 sqft
    2021-06-01 19 days 1,711 sqft
    2021-07-01 29 days 1,711 sqft
    2021-08-01 31 days 1,710 sqft
    2021-09-01 28 days 1,685 sqft
    2021-10-01 30 days 1,656 sqft
    2021-11-01 38 days 1,630 sqft
    2021-12-01 49 days 1,649 sqft
    2022-01-01 54 days 1,650 sqft
    2022-02-01 25 days 1,663 sqft
    2022-03-01 18 days 1,673 sqft
    2022-04-01 15 days 1,685 sqft
    2022-05-01 16 days 1,788 sqft
    2022-06-01 18 days 1,813 sqft
    2022-07-01 26 days 1,825 sqft
    2022-08-01 35 days 1,832 sqft
    2022-09-01 34 days 1,815 sqft
    2022-10-01 31 days 1,813 sqft
    2022-11-01 41 days 1,804 sqft
    2022-12-01 58 days 1,836 sqft
    2023-01-01 61 days 1,840 sqft
    2023-02-01 37 days 1,861 sqft
    2023-03-01 28 days 1,860 sqft
    2023-04-01 25 days 1,849 sqft
    2023-05-01 23 days 1,919 sqft
    2023-06-01 24 days 1,911 sqft
    2023-07-01 36 days 1,896 sqft
    2023-08-01 37 days 1,900 sqft
    2023-09-01 31 days 1,908 sqft
    2023-10-01 32 days 1,879 sqft
    2023-11-01 38 days 1,868 sqft
    2023-12-01 53 days 1,835 sqft
    2024-01-01 53 days 1,814 sqft
    2024-02-01 33 days 1,838 sqft
    2024-03-01 24 days 1,830 sqft
    2024-04-01 24 days 1,808 sqft
    2024-05-01 24 days 1,884 sqft
    2024-06-01 25 days 1,894 sqft
    2024-07-01 37 days 1,896 sqft
    2024-08-01 39 days 1,875 sqft
    2024-09-01 31 days 1,873 sqft
    2024-10-01 34 days 1,850 sqft
    2024-11-01 45 days 1,840 sqft
    Boston's median listing age (time on market) for 2024-11-01 was 45 days. This is 18% longer than the same period one year ago.

    Boston's median square footage for active listings during the 2024-11-01 period was 1,840 sqft. One year prior, the average listing was 1,868 sqft.

    VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.